Regulatory Alerts2021-12-16 | 29714Added · Updated
Consultation on Policy for the Introduction of an Administrative Monetary Fine Framework
The Central Bank of Trinidad and Tobago, the Financial Intelligence Unit, and the Securities and Exchange Commission propose an administrative monetary fine framework for financial institutions and listed businesses contravening anti-money laundering requirements. The policy outlines a process allowing regulated persons to discharge liability by paying specified fines and remedying violations, with a schedule of contraventions and amounts included in the appendix. Regulated entities are invited to submit feedback on the draft policy and accompanying legislation by January 17, 2022.
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